Pietro Garibaldi, Joaquim Oliveira Martins, and Jan van Ours (eds)

Economics and Finance, Macro- and Monetary Economics, Public and Welfare

The increase in life expectancy is arguably the most remarkable by‐product of modern economic growth. In the last 30 years we have been gaining roughly 2.5 years of longevity every decade both in ...
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The increase in life expectancy is arguably the most remarkable by‐product of modern economic growth. In the last 30 years we have been gaining roughly 2.5 years of longevity every decade both in Europe and in the United States. This progress has outpaced the most optimistic scenarios and documented that demographic projections are no more reliable than economic forecasts. This book looks closely into those challenges, raising a few fundamental issues at both the macroeconomic and microeconomic levels. Among these: is it possible to turn the challenges faced by ageing and longevity into a long‐term productive opportunity? Can advanced economies engineer a healthy ageing scenario with long‐term spillovers in terms of enhanced technological progress and acceleration of long‐term growth? What is the microeconomic relationship between ageing and productivity, and how can specific policies postpone any age‐related decay in productivity at the firm and individual levels?Less

Ageing, Health, and Productivity : The Economics of Increased Life Expectancy

Published in print: 2010-11-25

The increase in life expectancy is arguably the most remarkable by‐product of modern economic growth. In the last 30 years we have been gaining roughly 2.5 years of longevity every decade both in Europe and in the United States. This progress has outpaced the most optimistic scenarios and documented that demographic projections are no more reliable than economic forecasts. This book looks closely into those challenges, raising a few fundamental issues at both the macroeconomic and microeconomic levels. Among these: is it possible to turn the challenges faced by ageing and longevity into a long‐term productive opportunity? Can advanced economies engineer a healthy ageing scenario with long‐term spillovers in terms of enhanced technological progress and acceleration of long‐term growth? What is the microeconomic relationship between ageing and productivity, and how can specific policies postpone any age‐related decay in productivity at the firm and individual levels?

This book examines the HIV/AIDS epidemic in the social and economic context of poverty and economic crisis in developing and transition countries. It challenges the assumption — implicit in AIDS ...
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This book examines the HIV/AIDS epidemic in the social and economic context of poverty and economic crisis in developing and transition countries. It challenges the assumption — implicit in AIDS policy — that differences in sexual behavior are adequate to explain differences in HIV prevalence between populations. Using an epidemiological approach, the book shows how people who are malnourished, burdened with parasites and infectious diseases, and who lack access to medical care are more vulnerable to all diseases. It explains the specific mechanisms by which undernutrition, micronutrient deficiency, malaria, soil-transmitted helminths, schistosomiasis, and other parasitic illnesses increase the risk of HIV transmission and epidemic spread of HIV/AIDS in poor populations. A theme throughout the book is that the sexual transmission of HIV diverts attention from the social and economic context of profound poverty. The distraction of sex is compounded by Western stereotypes of African sexuality, perpetuated through reliance on anecdotal evidence and the construction of a notion of fundamental dissimilarity among peoples of different world regions. The book evaluates current methods in epidemiology and health economics, which do not take account of the interactions among diseases that increase risk of transmission of HIV in poor populations. It criticizes HIV-prevention policies as narrow, shortsighted, and dead-end because they fail to address the economic and social context in which risky behaviors occur. Finally, the book offers pragmatic solutions to social, economic, and biological factors that promote disease transmission, including the spread of HIV.Less

AIDS and the Ecology of Poverty

Eileen Stillwaggon

Published in print: 2005-11-24

This book examines the HIV/AIDS epidemic in the social and economic context of poverty and economic crisis in developing and transition countries. It challenges the assumption — implicit in AIDS policy — that differences in sexual behavior are adequate to explain differences in HIV prevalence between populations. Using an epidemiological approach, the book shows how people who are malnourished, burdened with parasites and infectious diseases, and who lack access to medical care are more vulnerable to all diseases. It explains the specific mechanisms by which undernutrition, micronutrient deficiency, malaria, soil-transmitted helminths, schistosomiasis, and other parasitic illnesses increase the risk of HIV transmission and epidemic spread of HIV/AIDS in poor populations. A theme throughout the book is that the sexual transmission of HIV diverts attention from the social and economic context of profound poverty. The distraction of sex is compounded by Western stereotypes of African sexuality, perpetuated through reliance on anecdotal evidence and the construction of a notion of fundamental dissimilarity among peoples of different world regions. The book evaluates current methods in epidemiology and health economics, which do not take account of the interactions among diseases that increase risk of transmission of HIV in poor populations. It criticizes HIV-prevention policies as narrow, shortsighted, and dead-end because they fail to address the economic and social context in which risky behaviors occur. Finally, the book offers pragmatic solutions to social, economic, and biological factors that promote disease transmission, including the spread of HIV.

Important results in the applied welfare literature are used to extend a conventional Harberger cost-benefit analysis. A conventional welfare equation is obtained for marginal policy changes in a ...
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Important results in the applied welfare literature are used to extend a conventional Harberger cost-benefit analysis. A conventional welfare equation is obtained for marginal policy changes in a general equilibrium economy with tax distortions. It is extended to accommodate internationally traded goods, time, income taxes, and non-tax distortions, including externalities, non-competitive behaviour, public goods, and price-quantity controls. The welfare analysis is developed in stages, and where possible is explained using diagrams, to make it more amenable to the different institutional arrangements encountered in applied work. Computable welfare expressions are solved using demand-supply elasticities. In a conventional cost-benefit analysis, lump sum transfers are used to separate the welfare effects of individual policy variables. This is important because it allows policy evaluation to be divided across specialist agencies. These transfers are carefully examined to identify the important role played by the marginal social cost of public funds (MCF) in policy evaluation when governments balance their budgets with distorting taxes. This book separates income effects for marginal policy changes in the shadow value of government revenue. As a scaling coefficient that converts efficiency effects into dollar changes in private surplus, it makes income effects irrelevant in single (aggregated) consumer economies, and conveniently isolates distributional effects in heterogeneous consumer economies. This decomposition is used to test for Pareto improvements, and to examine the separate, but related roles of the shadow value of government revenue and the MCF in applied work.Less

Applied Welfare Economics

Chris Jones

Published in print: 2005-05-05

Important results in the applied welfare literature are used to extend a conventional Harberger cost-benefit analysis. A conventional welfare equation is obtained for marginal policy changes in a general equilibrium economy with tax distortions. It is extended to accommodate internationally traded goods, time, income taxes, and non-tax distortions, including externalities, non-competitive behaviour, public goods, and price-quantity controls. The welfare analysis is developed in stages, and where possible is explained using diagrams, to make it more amenable to the different institutional arrangements encountered in applied work. Computable welfare expressions are solved using demand-supply elasticities. In a conventional cost-benefit analysis, lump sum transfers are used to separate the welfare effects of individual policy variables. This is important because it allows policy evaluation to be divided across specialist agencies. These transfers are carefully examined to identify the important role played by the marginal social cost of public funds (MCF) in policy evaluation when governments balance their budgets with distorting taxes. This book separates income effects for marginal policy changes in the shadow value of government revenue. As a scaling coefficient that converts efficiency effects into dollar changes in private surplus, it makes income effects irrelevant in single (aggregated) consumer economies, and conveniently isolates distributional effects in heterogeneous consumer economies. This decomposition is used to test for Pareto improvements, and to examine the separate, but related roles of the shadow value of government revenue and the MCF in applied work.

William K. Roche, Philip J. O'Connell, and Andrea Prothero (eds)

Economics and Finance, Macro- and Monetary Economics, Public and Welfare

Among the nations most seriously affected by the Great Recession, Ireland has been hailed as a ‘poster child’ for austerity, particularly following the country’s exit from a severe austerity ...
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Among the nations most seriously affected by the Great Recession, Ireland has been hailed as a ‘poster child’ for austerity, particularly following the country’s exit from a severe austerity programme, agreed with the Troika of the International Monetary Fund (IMF), the European Central Bank (ECB), and the European Commission (EC), and its return to economic growth. In this multidisciplinary book, Ireland’s leading social scientists present the first systematic study of the Great Recession, austerity, and recovery in Ireland. Over seventeen chapters, the book assesses the effects of the recession and austerity programme on Ireland’s economy, business and financial systems, consumption, regulation, politics, relations with international agencies, workplaces, the labour market, migration, public service reform, inequality, the housing market, and culture. The book is critical of Ireland’s delineation as Europe’s ‘poster child’ for austerity. It sets out the great social costs entailed by the cutbacks implemented under austerity. It shows how many of the reforms agreed with the Troika were implemented partially and incompletely. It argues that Ireland’s economic recovery can largely be attributed to the importance of foreign direct investment and exports in the Irish economy and the revival of leading economies outside the Eurozone with which the country has well- and long-established trading relationships.Less

Austerity and Recovery in Ireland : Europe's Poster Child and the Great Recession

Published in print: 2016-12-15

Among the nations most seriously affected by the Great Recession, Ireland has been hailed as a ‘poster child’ for austerity, particularly following the country’s exit from a severe austerity programme, agreed with the Troika of the International Monetary Fund (IMF), the European Central Bank (ECB), and the European Commission (EC), and its return to economic growth. In this multidisciplinary book, Ireland’s leading social scientists present the first systematic study of the Great Recession, austerity, and recovery in Ireland. Over seventeen chapters, the book assesses the effects of the recession and austerity programme on Ireland’s economy, business and financial systems, consumption, regulation, politics, relations with international agencies, workplaces, the labour market, migration, public service reform, inequality, the housing market, and culture. The book is critical of Ireland’s delineation as Europe’s ‘poster child’ for austerity. It sets out the great social costs entailed by the cutbacks implemented under austerity. It shows how many of the reforms agreed with the Troika were implemented partially and incompletely. It argues that Ireland’s economic recovery can largely be attributed to the importance of foreign direct investment and exports in the Irish economy and the revival of leading economies outside the Eurozone with which the country has well- and long-established trading relationships.

In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries’ success. This book revisits the ...
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In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries’ success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people’s values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that “greening” GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.Less

Beyond GDP : Measuring Welfare and Assessing Sustainability

Marc FleurbaeyDidier Blanchet

Published in print: 2013-05-09

In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries’ success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people’s values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that “greening” GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.

Arnim Langer and Graham K. Brown (eds)

Economics and Finance, Development, Growth, and Environmental, Public and Welfare

Despite growing consensus on the ‘right’ policies for reconstruction and peacebuilding in post-conflict societies, there is still little knowledge how the implementation of such policies impacts the ...
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Despite growing consensus on the ‘right’ policies for reconstruction and peacebuilding in post-conflict societies, there is still little knowledge how the implementation of such policies impacts the durability of peace. This book aims to address this void by analysing the timing and sequencing of post-conflict reconstruction and peacebuilding processes. It brings together insights from thematic analyses and country experiences, presented by experts from a range of disciplinary backgrounds. The thematic chapters deal with, among others, issues of poverty reduction and social development; economic reforms and reconstruction; democratization; DDR and reconciliation. The case-study chapters cover ongoing and terminated conflicts in Africa, Latin America, Europe, and Asia. The central questions the book poses are: when different peacebuilding reforms, interventions, and measures can best be implemented to increase the chances that a peace process will be successful and durable; how these different peacebuilding reforms, interventions, and measures interact and relate to one and other; whether there is a particular sequence in which certain measures and policies can best be implemented to increase the chances that a peace process will be successful; and what type of peacebuilding projects and programmes are best initiated by different international actors and at what time. The book concludes that while there clearly is no magic sequence of peacebuilding, there are some priorities that clearly merit prioritization and do not conflict significantly with other priorities. It is argued that these ‘people-centred priorities’ can be used to guide the timing and sequencing of peacebuilding interventions in specific cases and contexts.Less

Building Sustainable Peace : Timing and Sequencing of Post-Conflict Reconstruction and Peacebuilding

Published in print: 2016-06-23

Despite growing consensus on the ‘right’ policies for reconstruction and peacebuilding in post-conflict societies, there is still little knowledge how the implementation of such policies impacts the durability of peace. This book aims to address this void by analysing the timing and sequencing of post-conflict reconstruction and peacebuilding processes. It brings together insights from thematic analyses and country experiences, presented by experts from a range of disciplinary backgrounds. The thematic chapters deal with, among others, issues of poverty reduction and social development; economic reforms and reconstruction; democratization; DDR and reconciliation. The case-study chapters cover ongoing and terminated conflicts in Africa, Latin America, Europe, and Asia. The central questions the book poses are: when different peacebuilding reforms, interventions, and measures can best be implemented to increase the chances that a peace process will be successful and durable; how these different peacebuilding reforms, interventions, and measures interact and relate to one and other; whether there is a particular sequence in which certain measures and policies can best be implemented to increase the chances that a peace process will be successful; and what type of peacebuilding projects and programmes are best initiated by different international actors and at what time. The book concludes that while there clearly is no magic sequence of peacebuilding, there are some priorities that clearly merit prioritization and do not conflict significantly with other priorities. It is argued that these ‘people-centred priorities’ can be used to guide the timing and sequencing of peacebuilding interventions in specific cases and contexts.

When taxes are introduced on carbon and energy, and the revenue is used to reduce other taxes, will a positive effect be achieved both for the environment and for the economy? In 1990, Finland was ...
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When taxes are introduced on carbon and energy, and the revenue is used to reduce other taxes, will a positive effect be achieved both for the environment and for the economy? In 1990, Finland was the first country that introduced a tax on CO2. Later, Sweden, Denmark, Netherlands, Slovenia, Germany, and the UK followed suit with tax reforms that shifted taxation from labour to carbon and energy. Over the years, CO2 and energy taxes have gradually been raised, so that in Europe taxes of more than 25 billion EUR a year have been shifted. In this book, these experiences with carbon‐energy taxation, along with tax‐shifting programmes lowering other taxes, are examined in detail. Availability of unique and original data, including sector‐specific energy prices and taxes, as well as the use of advanced statistical techniques, such as co‐integration analysis and panel‐regression techniques along with the time‐series‐estimated macro‐economic model – Energy–Environment–Economy model for Europe (E3ME), makes this analysis truly comprehensive. Results of the analysis show that even though the taxes implemented have been relatively modest, they have, in the countries examined, contributed to a reduction in the emissions of greenhouse gases of up to 7 per cent, while for five of the countries a small increase in economic activity is recorded as a result of the tax‐shifting, with other impacts separated out. Due to concerns for competitiveness, the largest industrial emitters of greenhouse gases within Europe continue to benefit from exemptions from the carbon‐energy taxation schemes, as outside Europe there are major emitters without any economic penalties attached to greenhouse gas emissions. On basis of the lessons from carbon‐energy taxation learned in Europe, the editors of the book indicate how carbon‐energy taxation could usefully be combined with emissions trading, and they discuss how the recommendations from IPCC for a gradually escalating carbon price could be accomplished while preventing carbon leakage.Less

Carbon-Energy Taxation : Lessons from Europe

Published in print: 2009-10-29

When taxes are introduced on carbon and energy, and the revenue is used to reduce other taxes, will a positive effect be achieved both for the environment and for the economy? In 1990, Finland was the first country that introduced a tax on CO2. Later, Sweden, Denmark, Netherlands, Slovenia, Germany, and the UK followed suit with tax reforms that shifted taxation from labour to carbon and energy. Over the years, CO2 and energy taxes have gradually been raised, so that in Europe taxes of more than 25 billion EUR a year have been shifted. In this book, these experiences with carbon‐energy taxation, along with tax‐shifting programmes lowering other taxes, are examined in detail. Availability of unique and original data, including sector‐specific energy prices and taxes, as well as the use of advanced statistical techniques, such as co‐integration analysis and panel‐regression techniques along with the time‐series‐estimated macro‐economic model – Energy–Environment–Economy model for Europe (E3ME), makes this analysis truly comprehensive. Results of the analysis show that even though the taxes implemented have been relatively modest, they have, in the countries examined, contributed to a reduction in the emissions of greenhouse gases of up to 7 per cent, while for five of the countries a small increase in economic activity is recorded as a result of the tax‐shifting, with other impacts separated out. Due to concerns for competitiveness, the largest industrial emitters of greenhouse gases within Europe continue to benefit from exemptions from the carbon‐energy taxation schemes, as outside Europe there are major emitters without any economic penalties attached to greenhouse gas emissions. On basis of the lessons from carbon‐energy taxation learned in Europe, the editors of the book indicate how carbon‐energy taxation could usefully be combined with emissions trading, and they discuss how the recommendations from IPCC for a gradually escalating carbon price could be accomplished while preventing carbon leakage.

This book mounts a critique of current health economics and provides a new way of looking at the economics of health and health care. It argues that health economics has been too dominated by the ...
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This book mounts a critique of current health economics and provides a new way of looking at the economics of health and health care. It argues that health economics has been too dominated by the economics of health care and has largely ignored the impact of poverty, inequality, poor housing, and lack of education on health. It is suggested that some of the structural issues of economies, particularly the individualism of neo liberalism which is becoming more and more pervasive across the globe, need to be addressed in health economics. The book instead proposes a form of collective decision making through communitarianism, placing value on participation in public life and on institutions, such as health care. It is envisaged this form of decision making can be used at the local, national, or global levels. For the last, this would mean a major revamp of global institutions like the World Bank and the IMF. Examples of the impact of the new paradigm on health policy in general but also more specifically on priority setting and equity are included.Less

Challenging Health Economics

Gavin Mooney

Published in print: 2009-01-22

This book mounts a critique of current health economics and provides a new way of looking at the economics of health and health care. It argues that health economics has been too dominated by the economics of health care and has largely ignored the impact of poverty, inequality, poor housing, and lack of education on health. It is suggested that some of the structural issues of economies, particularly the individualism of neo liberalism which is becoming more and more pervasive across the globe, need to be addressed in health economics. The book instead proposes a form of collective decision making through communitarianism, placing value on participation in public life and on institutions, such as health care. It is envisaged this form of decision making can be used at the local, national, or global levels. For the last, this would mean a major revamp of global institutions like the World Bank and the IMF. Examples of the impact of the new paradigm on health policy in general but also more specifically on priority setting and equity are included.

This book addresses key questions about whether inequality in incomes, wealth, and education have been widening in a consistent fashion across 30 rich nations. It considers possible drivers of these ...
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This book addresses key questions about whether inequality in incomes, wealth, and education have been widening in a consistent fashion across 30 rich nations. It considers possible drivers of these developments, and it scrutinises scrutinizes whether this widening is exacerbating social problems and undermining the healthy functioning of democratic processes. It sets out to answer these questions by looking in depth at the experience of 30 countries over the past 30 years, examining what has actually been happening to these inequalities and investigating how this can be related to social and political outcomes such as poverty, family structures, health and health inequalities, crime, political participation, and attitudes and values. This brings out that although many countries have seen some increase in income inequality, country experiences have varied widely, that an immediate impact on average levels of social problems is difficult to see though there may be some interaction with political behaviours and changes to social gradients. What does stand out is that policies matter both in terms of ameliorating background inequality pressures and mitigating the extent to which inequalities in income spill over to other domains.Less

Published in print: 2014-01-30

This book addresses key questions about whether inequality in incomes, wealth, and education have been widening in a consistent fashion across 30 rich nations. It considers possible drivers of these developments, and it scrutinises scrutinizes whether this widening is exacerbating social problems and undermining the healthy functioning of democratic processes. It sets out to answer these questions by looking in depth at the experience of 30 countries over the past 30 years, examining what has actually been happening to these inequalities and investigating how this can be related to social and political outcomes such as poverty, family structures, health and health inequalities, crime, political participation, and attitudes and values. This brings out that although many countries have seen some increase in income inequality, country experiences have varied widely, that an immediate impact on average levels of social problems is difficult to see though there may be some interaction with political behaviours and changes to social gradients. What does stand out is that policies matter both in terms of ameliorating background inequality pressures and mitigating the extent to which inequalities in income spill over to other domains.

There has been a remarkable upsurge of debate about increasing inequalities and their societal implications, reinforced by the economic crisis but bubbling to the surface before it. This has been ...
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There has been a remarkable upsurge of debate about increasing inequalities and their societal implications, reinforced by the economic crisis but bubbling to the surface before it. This has been seen in popular discourse, media coverage, political debate, and research in the social sciences. The central questions addressed by this book, and the major research project GINI on which it is based, are: Have inequalities in income, wealth and education increased over the past 30 years or so across the rich countries, and if so why? What are the social, cultural and political impacts of increasing inequalities in income, wealth, and education? What are the implications for policy and for the future development of welfare states? In seeking to answer these questions, this book adopts an interdisciplinary approach that draws on economics, sociology, and political science, and applies this approach to learning from the experiences over the last three decades of European countries together with the USA, Japan, Canada, Australia, and South Korea. It combines comparative research with lessons from specific country experiences, and highlights the challenges in seeking to adequately assess the factors underpinning increasing inequalities and in identify the channels through which these may impact on key social and political outcomes, as well as the importance of framing inequality trends and impacts in the institutional and policy context of the country in question.Less

Published in print: 2014-01-30

There has been a remarkable upsurge of debate about increasing inequalities and their societal implications, reinforced by the economic crisis but bubbling to the surface before it. This has been seen in popular discourse, media coverage, political debate, and research in the social sciences. The central questions addressed by this book, and the major research project GINI on which it is based, are: Have inequalities in income, wealth and education increased over the past 30 years or so across the rich countries, and if so why? What are the social, cultural and political impacts of increasing inequalities in income, wealth, and education? What are the implications for policy and for the future development of welfare states? In seeking to answer these questions, this book adopts an interdisciplinary approach that draws on economics, sociology, and political science, and applies this approach to learning from the experiences over the last three decades of European countries together with the USA, Japan, Canada, Australia, and South Korea. It combines comparative research with lessons from specific country experiences, and highlights the challenges in seeking to adequately assess the factors underpinning increasing inequalities and in identify the channels through which these may impact on key social and political outcomes, as well as the importance of framing inequality trends and impacts in the institutional and policy context of the country in question.

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